Same-day. On platform. One workflow.
When it comes to EOFY client strategies, recontribution remains one of the most powerful tools in your adviser kitbag. You need a platform that makes recontributions quick, easy and fuss-free.
You don’t want to be selling down to cash and reinvesting.
You don’t want to be worrying about time out of market.
You don’t want to be juggling multiple workflows.
That's why in May of last year we unveiled our new recontributions wizard, designed to streamline this essential process. And now, just in time for the 2024-25 EOFY tax season, we're making it even better with a key new enhancement.
Recontributions…evolved
Our innovative recontributions wizard already gave you the ability to:
- Transfer from super or pension to IDPS and back to super in one workflow for eligible accounts*
- Generate all forms and applications in a single wizard
- Stay on platform and avoid buy/sell costs with no need to cash out and reinvest
- Keep track of recontributions with new activity type
- Enjoy certainty with same-day transfer.
And the latest enhancements offer greater efficiency.
You can now transact (like add deposits or rollovers) on the new super account while the recontribution is processing. Providing even greater efficiency when implementing recontribution strategies for your clients - whether you’re recontributing this financial year to fully utilise your client’s cap, delaying the transfer to 2024-25 or adopting a multi-year strategy to maximise their tax benefits.
Access the North recontribution wizard now from the client account transfer menu.
Also, here’s a hot tip
Benefit further from our innovative client review tool, North Interactive, which gives an uninterrupted and consolidated view of movements and performance over time - even after executing a recontribution strategy. Plus, with the new contributions section coming soon, you'll have a clear, comprehensive view of your client's contributions in one place.
Learn more about North Interactive
If you have any questions or feedback about this enhancement, please reach out to your BDM or contact us.
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Important information
The information on this page has been provided by NMMT Limited ABN 42 058 835 573, AFSL 234653 (NMMT). It contains general advice only, does not take account of your client’s personal objectives, financial situation or needs, and a client should consider whether this information is appropriate for them before making any decisions. It’s important your client consider their circumstances and read the relevant product disclosure statement (PDS), investor directed portfolio guide (IDPS Guide) and target market determination (TMD), available from northonline.com.au or by contacting the North Service Centre on 1800 667 841, before deciding what’s right for them.
MyNorth Investment and North Investment are operated by NMMT. MyNorth Investment Guarantee is issued by National Mutual Funds Management Limited ABN 32 006 787 720, AFSL 234652 (NMFM). MyNorth Super and Pension (including MyNorth Lifetime), MyNorth Super and Pension Guarantee and North Super and Pension are issued by N.M. Superannuation Proprietary Limited (ABN 31 008 428 322, AFSL 234654 (NM Super) as trustee of the Wealth Personal Superannuation and Pension Fund (the Fund) ABN 92 381 911 598. NMMT issues the interests in and is the responsible entity for MyNorth Managed Portfolios. All managed portfolios may not be available across all products on the North platform. All of the products above are referred to collectively as MyNorth Products. The information on this page is provided only for the use of advisers, it is not intended for clients. This page provides a brief overview of some of the benefits of investing in MyNorth Products. The adviser remains responsible for any advice/services they provide to clients including making their own inquiries and ensuring that the advice/services are appropriate and in accordance with all legal requirements.
You can read the Financial Services Guide online for more information, including the fees and benefits that companies related to NMMT, N.M. Superannuation Proprietary Limited ABN 31 008 428 322, AFSL 234654 (N.M. Super) and their representatives may receive in relation to products and services provided.
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All information on this website is subject to change without notice.
It’s important a person considers their circumstances and reads the relevant product disclosure statement and/or investor directed portfolio services guide and target market determination, available from northonline.com.au or by contacting the North Service Centre on 1800 667 841, before deciding what’s right for them. Any general tax information provided is intended as a guide only and is based on our general understanding of taxation laws current at the date of publication. It’s not intended to be a substitute for specialised taxation advice or an assessment of liabilities, obligations or entitlements that arise, or could arise, under taxation law, and we recommend that advice be obtained from a registered tax agent / tax professional before deciding to act on the information provided. Information in this article is subject to change without notice.
*Recontribution wizard is available for accounts with no pending investment transactions and/or in-progress S290 submission. Once all pending/in progress transactions settle, the Recontribution wizard can be initiated.
**Investment Trends 2023 Benchmarking Report